Top 20 Wealthiest Landowners

November, 2003

In Hawaii Business’ third annual compilation of the Top 20 Wealthiest Landowners by tax-assessed value, the wealthiest landowners’ holdings comprise just a little more than 11.5 percent of the total 2002 tax-assessed value for the entire state. The Top 20 Wealthiest Landowners have land and buildings valued at $16.2 billion, compared to $140.7 billion for the entire state of Hawaii. All of Waikiki is valued at $10.1 billion for 2002.

The single most valuable property in Hawaii is the Hilton Hawaiian Village, with a 2002 tax-assessed value of $739.6 million. The nearby Ala Moana Center (including the Ala Moana and Ala Moana Pacific Center office buildings) is a close second at $721.7 million. The state of Hawaii is no slouch in the landownership department, either. The state’s aggregate holdings are valued at $1.4 billion.

New to the list this year is Fairmont Hotels and Resorts, with two strategic and valuable Neighbor Island properties. The second newcomer has a rich and storied international past: The Catholic Church in Hawaii completes this year’s list. The following pages illustrate the powerful dynamics of landownership demonstrated by the Top 20 Wealthiest Landowners from Bishop Street and beyond.